Business Standard

LIC launches new child policy

Related News

of India has launched a new product called in the child plan space that aims to meet educational and other needs of children. In case of death of the policyholder, the new policy pays the total sum assured (SA) to the nominee, which is 10per cent of the SA payable every year till the end of policy term.

If the policyholder survives the policy term, the product will pay maturity benefit of SA along with loyalty bonus. The minimum and maximum age of policyholder can be 18 and 50 years, respectively. Maximum maturity age is 75 years. Minimum and maximum age of child is in the range 0-17 years.

The maximum policy term is 25 minus age of the child. The minimum sum assured is Rs 1 lakh while there is no upper limit.

Read more on:   
|

Read More

Single-premium life insurance policies under regulator's lens

After highest net asset value (NAV) guaranteed products, the single premium, two-year premium and three-year premium policies are the latest life ...

Quick Links

More news from Finance Rss icon

PSBs may soon raise funds to meet capital needs

The government has provided for Rs 11,200 cr for bank capitalisation in the Budget for the current financial year

RBI will cut interest rate at the right time: Sandhu

With the central bank keeping its short-term lending rate unchanged citing inflationary risks, Financial Services Secretary G S Sandhu on ...

Private insurers shift focus to regular premium products

Insurance executives said that Life Insurance Corporation of India will play a large role in this space going forward

Back to Top